SALE OF STAGE SHARES

Hawke's Bay Herald-Tribune, Volume 81, Issue 70, 15 December 1937, Page 5

SALE OF STAGE SHARES

New Blood for Williamson Company (Received 15; 8.45 a.in.) MELBOIJRNE, Dec. 14. Considerable interest has been aroused in theatrical circles by tlie announcement that a New Zealand investment trust has acquired a majority of the shares held in J. C. Williamson, Ltd. Negotiations were completed laSt Saturday i;or tlie purchase by the New Zealand group of 200,000 shares in Williamson5 s that were held by Sir George Tallis and Mr. Arthur ,W. Allen. Sir George Tallis, in an interview to-day, said that he hadi nothing but the warmest admiration ' for the way in which his co-directors, Messrs, Tait, had conducted the business of the company. Mr. E. J, Tait, in an interview, said that he and his co-directors were "not concerned about the salo of shares by individual directors. It has always been the policy of the Taits that the operations of the company should he consider ably extended, but in this regard our viewa have not been supported by the particular interests which are reported as having sold their shares." Mr. Tait added that he would welcome new blood if it meant support for a progressive policy. The issued capital of the company is £545,000 in 170,000 6 per cent, cuttiulative £1 ijreference shares and '375,000 £l ordinary shares, fully paid. Net profit for the year ended June 30 was £27,460, out. of which, in addition to the fixed preference dividend, an ordinary dividend of 2i per cent. was paid. This Was tlie first distribution on these shares since 1930. It is known that negotiations have been proceeding for a considerable time between Sir George Tallis and Mr. Arthur W. Allen and the ultimate buyers, but jt was believed in New Zealand tbat they had failed.